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Entrepreunarial Decision Making Under Ambiguity
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Book Synopsis Entrepreunarial Decision Making Under Ambiguity by : Anisa Shyti
Download or read book Entrepreunarial Decision Making Under Ambiguity written by Anisa Shyti and published by . This book was released on 2014 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurship scholars have resolved that overconfidence may play a role in entrepreneurial decisions. Although informative, extant research offers limited explanations on the mechanisms through which overconfidence contributes to the observed behavior. Moreover, important aspects of uncertainty and ambiguity, quintessential in entrepreneurial activity, are nearly neglected, and most studies focus on risk. My dissertation investigates entrepreneurs' attitudes towards ambiguity and the impact of overconfidence. Given this goal, I employ modern ambiguity theories and design several experiments, each aimed at responding to a precise research question, contributing to the grand theme of the manuscript. Findings suggest that overconfidence enhances decision makers' proneness to ambiguity, and both phenomena are context-related and likelihood dependent. I also find that entrepreneurs are more optimistic than non- entrepreneurs when deciding both under risk and ambiguity. Yet, entrepreneurs are more pessimistic under ambiguity compared to risk, while non-entrepreneurs do not discriminate between the two. The contribution of my work consists in bringing entrepreneurs where they belong: deciding under ambiguity... in the laboratory or in the wild.
Book Synopsis Affective Decision Making Under Uncertainty by : Donald J. Brown
Download or read book Affective Decision Making Under Uncertainty written by Donald J. Brown and published by Springer Nature. This book was released on 2020-12-18 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an exploration of the ubiquity of ambiguity in decision-making under uncertainty. It presents various essays on behavioral economics and behavioral finance that draw on the theory of Black Swans (Taleb 2010), which argues for a distinction between unprecedented events in our past and unpredictable events in our future. The defining property of Black Swan random events is that they are unpredictable, i.e., highly unlikely random events. In this text, Mandelbrot’s (1972) operational definition of risky random unpredictable events is extended to Black Swan assets – assets for which the cumulative probability distribution or conditional probability distribution of random future asset returns is a power distribution. Ambiguous assets are assets for which the uncertainties of future returns are not risks. Consequently, there are two disjoint classes of Black Swan assets: Risky Black Swan assets and Ambiguous Black Swan assets, a new class of ambiguous assets with unpredictable random future outcomes. The text is divided into two parts, the first of which focuses on affective moods, introduces affective utility functions and discusses the ambiguity of Black Swans. The second part, which shifts the spotlight to affective equilibrium in asset markets, features chapters on affective portfolio analysis and Walrasian and Gorman Polar Form Equilibrium Inequalities. In order to gain the most from the book, readers should have completed the standard introductory graduate courses on microeconomics, behavioral finance, and convex optimization. The book is intended for advanced undergraduates, graduate students and post docs specializing in economic theory, experimental economics, finance, mathematics, computer science or data analysis.
Book Synopsis Entrepreneurial Action by : Andrew C. Corbett
Download or read book Entrepreneurial Action written by Andrew C. Corbett and published by Emerald Group Publishing. This book was released on 2012-07-17 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action!
Book Synopsis The Anatomy of Entrepreneurial Decisions by : Andrea Caputo
Download or read book The Anatomy of Entrepreneurial Decisions written by Andrea Caputo and published by Springer. This book was released on 2019-08-02 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation, success and long-term survival of enterprises are fundamentally linked to the effectiveness of decision-making processes and negotiation capabilities. This book provides an overview of research into how decisions permeate entrepreneurial ventures throughout their lifecycle. A multidisciplinary approach combining psychology, sociology and political science is used to investigate how entrepreneurs address and deal with decision-making. The respective contributions highlight the latest empirical, theoretical and meta-research, and bridge the gap between literature on entrepreneurship, entrepreneurial and innovative behaviours with that on decision-making and negotiation. This book is one of the first to combine these streams of research, thereby offering a new and insightful addition to the field of entrepreneurship.
Book Synopsis Risk, Ambiguity and Decision by : Daniel Ellsberg
Download or read book Risk, Ambiguity and Decision written by Daniel Ellsberg and published by Routledge. This book was released on 2015-07-03 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ellsberg elaborates on "Risk, Ambiguity, and the Savage Axioms" and mounts a powerful challenge to the dominant theory of rational decision in this book.
Book Synopsis Trailblazing in Entrepreneurship by : Dean A. Shepherd
Download or read book Trailblazing in Entrepreneurship written by Dean A. Shepherd and published by Springer. This book was released on 2017-01-21 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY 4.0 license.In this book, the authors present a challenge for future research to build a stronger, more complete understanding of entrepreneurial phenomena. They argue that this more complete picture of entrepreneurial phenomena will likely come from scholars who undertake at least some trailblazing projects; from scholars who broaden the range of research questions, the potential outcomes of entrepreneurial action, and the selection and combination of research methods; and from researchers who avoid the endless debates about the margins of the field and its sub-fields or about whether one theoretical or philosophical lens is superior to another. This book offers suggestions for future research through a variety of topics including prosocial action, innovation, family business, sustainability and development, and the financial, social, and psychological costs of failure. It promises to make an important contribution to the development of the field and help academics, organizations, and society make useful contributions to the generation of entrepreneurial research.
Book Synopsis The Business of Ambiguity by : Dr. Debbie Sutherland
Download or read book The Business of Ambiguity written by Dr. Debbie Sutherland and published by Greenleaf Book Group. This book was released on 2022-01-11 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever been faced with a puzzling pattern of events, been stuck in a confusing situation, or felt trapped by your own routine thinking patterns? Or have you wondered about how you think and make decisions during messy and unexpected situations? In The Business of Ambiguity, Dr. Debbie Sutherland guides you to implement five key thinking and behavior strategies to explore business uncertainties and build an ambiguity mindset—the cognitive and behavioral capacity to untangle and understand the nuances of ambiguous situations. Using research and powerful real-life stories from dozens of executives whose roles involve a high degree of ambiguity, Dr. Sutherland provides you with the tools, resources, and insights to help you increase your comfort with the unknowns. If you are a business leader who wants to expand your thinking and leadership capacity, someone who wants to explore a knowing gap in life or business, or someone who has felt that it might be time to understand your biases and assumptions on a deeper level, this book is for you.
Book Synopsis Decision-Making under Ambiguity and Time Constraints by : Reimut Zohlnhöfer
Download or read book Decision-Making under Ambiguity and Time Constraints written by Reimut Zohlnhöfer and published by ECPR Press. This book was released on 2016-02-24 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy issues have grown ever more complex and politically more contestable. So governments in advanced democracies often do not understand the problems they have to deal with and do not know how to solve them. Thus, rational problem-solving models are highly unconvincing. Conversely, the Multiple-Streams Framework starts out from these conditions, which has led to increasing interest in it. Nevertheless, there has not yet been a systematic attempt to assess the potential of such scholarship. This volume is the first attempt to fill that gap by bringing together a group of international scholars to assess the strengths and weaknesses of the Framework from different angles. Chapters explore systematically and empirically the Framework’s potential in different national contexts and in policy areas from climate change and foreign policy to healthcare and the welfare state.
Book Synopsis Over-Confidence and Entrepreneurial Choice Under Ambiguity by : Anisa Shyti
Download or read book Over-Confidence and Entrepreneurial Choice Under Ambiguity written by Anisa Shyti and published by . This book was released on 2013 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurship studies have attributed to over-confidence decisions to start a new venture. Many decision situations, through which over-confidence is measured, entail some degrees of uncertainty, (e.g., related to own skill or to competition). The aspect of uncertainty is largely neglected in over-confidence studies or entrepreneurial research. Both uncertainty and over-confidence influence individuals' likelihood perceptions. Nevertheless, these two aspects are seldom jointly investigated, and the little evidence provides inconclusive results. In this study, we experimentally investigate how uncertainty, as a property of the situation, and over-confidence, as a characteristic of decision makers' beliefs, influence choice behavior. Our findings with Executive MBA participants show that over-confident decision makers choose less uncertain options for low likelihood outcomes and more uncertain options for high likelihood outcomes, contrary to neutral confidence decision makers, whose choices are in line with standard Prospect Theory predictions.
Book Synopsis Ambiguity and Choice in Public Policy by : Nikolaos Zahariadis
Download or read book Ambiguity and Choice in Public Policy written by Nikolaos Zahariadis and published by Georgetown University Press. This book was released on 2003-07-29 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zahariadis offers a theory that explains policymaking when "ambiguity" is present—a state in which there are many ways, often irreconcilable, of thinking about an issue. Expanding and extending John Kingdon's influential "multiple streams" model that explains agenda setting, Zahariadis argues that manipulation, the bending of ideas, process, and beliefs to get what you want out of the policy process, is the key to understanding the dynamics of policymaking in conditions of ambiguity. He takes one of the major theories of public policy to the next step in three different ways: he extends it to a different form of government (parliamentary democracies, where Kingdon looked only at what he called the United States's presidential "organized anarchy" form of government); he examines the entire policy formation process, not just agenda setting; and he applies it to foreign as well as domestic policy. This book combines theory with cases to illuminate policymaking in a variety of modern democracies. The cases cover economic policymaking in Britain, France, and Germany, foreign policymaking in Greece, all compared to the U.S. (where the model was first developed), and an innovative computer simulation of the policy process.
Book Synopsis Decision Making in Entrepreneurship by : Dean A. Shepherd
Download or read book Decision Making in Entrepreneurship written by Dean A. Shepherd and published by Edward Elgar Publishing. This book was released on 2016-11-25 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, Dean Shepherd focuses on the varying topics of entrepreneurship unified through conjoint analysis. Although the topic of entrepreneurial decision making is broad, in doing so, he reveals the mechanisms that come into play during the entrepreneurial decision-making process.
Book Synopsis Entrepreneurship and Behavioral Strategy by : T. K. Das
Download or read book Entrepreneurship and Behavioral Strategy written by T. K. Das and published by IAP. This book was released on 2020-06-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective” economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literatures. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Entrepreneurship and Behavioral Strategy contains contributions by leading scholars in the field of entrepreneurship with an interest in researching behavioral perspectives. The 10 chapters in this volume deal with a number of significant issues relating broadly to the behavioral aspects of entrepreneurship, covering topics such as entrepreneurial process orientation, a machine learning approach to reviewing the intersection of the entrepreneurship and behavioral strategy literatures, the temporalities of entrepreneurial risk behavior, entrepreneurs under ambiguity, disruptive business model innovations, international attention, entrepreneurial team formation, building alliances in new and small ventures, the role of insight in entrepreneurial action, and the effects of foreign competition on entrepreneurship activities. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the confluence of entrepreneurship and behavioral strategy.
Book Synopsis Handbook of the Economics of Risk and Uncertainty by : Mark Machina
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Book Synopsis Habitual Entrepreneurs by : Deniz Ucbasaran
Download or read book Habitual Entrepreneurs written by Deniz Ucbasaran and published by Now Publishers Inc. This book was released on 2008 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Habitual Entrepreneurs examines the scale of habitual entrepreneurship and uses insights from human capital theory and cognitive theories to present a theoretical case for distinguishing between different types of entrepreneurs with reference to their prior business ownership experience.
Book Synopsis Decision Making in Behavioral Strategy by : T. K. Das
Download or read book Decision Making in Behavioral Strategy written by T. K. Das and published by IAP. This book was released on 2016-11-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective’ economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literatures. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Decision Making in Behavioral Strategy contains contributions by leading scholars in the field of behavioral strategy research. The 10 chapters in this volume cover a number of significant issues relating to the decision making processes, practices, and perspectives in the field of behavioral strategy, covering diverse topics such as failures in acquisitions, entrepreneurs under ambiguity, metacognition, neural correlates of emotion, knowledge flows, behavioral responses, business modeling, and alliance capability. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on decision making in behavioral strategy.
Book Synopsis Entrepreneurial Behaviour by : Andrea Caputo
Download or read book Entrepreneurial Behaviour written by Andrea Caputo and published by Emerald Group Publishing. This book was released on 2020-08-28 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success, longevity, and survival of SMEs are deeply linked to the effectiveness of individual decision-making processes, and established firms need to develop an entrepreneurial and innovative decision-making processes to maintain competitive advantages in a continuously changing and increasingly turbulent environment.
Book Synopsis Paradigms and Conventions by : Young Back Choi
Download or read book Paradigms and Conventions written by Young Back Choi and published by University of Michigan Press. This book was released on 1993 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paradigms and Conventions presents a viable alternative to the standard neoclassical economic approach of a rational maximizing model. Young Back Choi develops the concept of convention and uses it to build our understanding of the working of the market as a social learning process. This approach offers a unique perspective on entrepreneurs and innovators by carefully analyzing the nature of decision making under uncertainty and the problem of modeling it, and then systematically exploring its behavioral implications. Paradigms and Conventions presents propositions and their corollaries logically derived from the principles that human beings must judge situations before they can act; and that when faced with an unfamiliar situation, human beings will endeavor to form a judgment of it. By putting the human mind at the center of the analysis, Professor Choi creates a surprisingly fruitful way of thinking about these issues that promises a new view of decision making. This book offers the stimulus of new ideas and the insights of a new approach that will be attractive to students and faculty in psychology, sociology, anthropology, political science, and philosophy, as well as economics.
